BREAK IN PRICES.

Taihape Daily Times, Volume XII, Issue 3603, 15 October 1920, Page 5

BREAK IN PRICES.

FALL IN COMMODITIES. "THE TIMES"' COMMENT." Received 8.50" S3n.

LONDON, Oct. 14

The Times devotes much space to the break in prices, and says it Is suggested that the fall in commodities is making is extremely difficult for the- holders to market their goods at all; but the public is unlikely to waste.sympathy,upon those speculators who turned a deaf ear'to warnings not to; hold back, but to .sell even at a loss .They would have sustained no loss if. they had heeded the advice persistently given by bankers in the past two years. The fact.is that sellers of goods, especially.the"' speculative element, have had a remarkably long innings; /vand. the -consumer.; Is'.now hoping that his turn is beginning to arrive. CUBAN FINANCIAL CRISIS. POSITION STILL SERIOUS. Received 10.20 a.m. NEW YORK, Oct. 14. Messages from Havana state that despite the various proposals to remedy the financial situation in Cuba, business remains at a standstill. Many firms are paying off 'their men, because they cannot meet the .pay rolls. It is feared that no one will be able to pay their enipJoyees if the moratorium continues for fifty days. The drop in the price of sugar is considered as being only one element in the situation; and the large number of repudiated rice contracts and wild speculation in other commodities, notably flour, are reckoned to' be factors in the situation which is now considered to be most serfous. HIDES COME DOWN. Received 11.50 a.m. MELBOURNE, This day. The hide market is irregular and declined a penny to twopencee, except for stouts. BIG SLUMP IN COTTON. . » Received 11.50 a.m. "WASHINGTON, Oct. 14. The Agricultural Commission of Georgia has announced that the South is facing a loss of more than five hundred million dollars as the result of the drop in cotton prices from forty cents to less than twenty cents.

OIL TANKS FOR WELLINGTON.

.WELLINGTON, This day. A new departure in the oil business is to be made by the Vacuum Oil Company } which intends to erect at Miramar two tanks, each to hold 55,000 Barrels of oil. Some years., age plans were drawn for tanks near Kaiwarra but nothing was done. The new tanks, for which some of the material is already on the ground, are close to the Miramar. wharf, where steamers will lie and pump oil to the Company's property as required. It will then be pumped back to oil burning ships. The tanks will be surrounded by.earthen embankment as security! against fire. -